BofA Accord With FHFA Could Cost $8 Billion, Fitch Says

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BofA Accord With FHFA Could Cost $8 Billion, Fitch Says

BofA Accord With FHFA Could Cost $8 Billion, Fitch Says

These settlements are 0.000000000005 pennies over a dollar compared to what they stole!

WOW!

WE are in the wrong business folks!


Bloomberg-

Bank of America Corp., the second-biggest U.S. lender, may need to pay $5 billion to $8 billion to settle a federal mortgage lawsuit after a rival bank’s deal set “a relatively high bar,” according to Fitch Ratings.

Bank of America had about $57 billion in mortgage-backed securities cited by a Federal Housing Finance Agency lawsuit, compared with about $33 billion tied to JPMorgan Chase & Co.’s suit, which was settled last week for $4 billion, Fitch analysts wrote in a note today.

[BLOOMBERG]

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